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Re: Why Do I Owe ATO after tax return

I'm new

Views 1595

Replies 1

Full time Australian Citizen, Single, no dependencies, I have $63,890.00 taxable income, tax withheld is $13,584.00 which i believe is not under the amount required.

 

I have no other incomes except $6.79 Interest from my bank, no Losses, no Capital gains or anything.

 

ATO site calculator says i should be getting $2394.40 back.

When i put through my Tax i owe the ATO it says I now owe $1119.55 to the ATO?

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @MFothers1492 

 

Thanks for posting!

 

You may receive a tax bill if you:

  • are an employee and enough tax hasn't been withheld from the payments made to you by your employer
  • are a sole trader and haven't paid enough tax to the ATO throughout the year
  • receive other income where no tax was withheld.

 

There are also a number of factors that can differ your tax outcome including if you had a spouse, if any offsets apply and your Medicare and private health insurance.

 

If you think your notice of assessment is wrong, please check all the details on it with those in your tax return. If you believe there is a problem, please contact us. You will need your notice of assessment and, if possible a copy of your tax return.

 

Hope this helps!

 

 

 

 

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @MFothers1492 

 

Thanks for posting!

 

You may receive a tax bill if you:

  • are an employee and enough tax hasn't been withheld from the payments made to you by your employer
  • are a sole trader and haven't paid enough tax to the ATO throughout the year
  • receive other income where no tax was withheld.

 

There are also a number of factors that can differ your tax outcome including if you had a spouse, if any offsets apply and your Medicare and private health insurance.

 

If you think your notice of assessment is wrong, please check all the details on it with those in your tax return. If you believe there is a problem, please contact us. You will need your notice of assessment and, if possible a copy of your tax return.

 

Hope this helps!